With big data and predictive analytics, operators can use production surveillance, comparing predictions to new actuals to determine how a particular oil or gas asset is performing. In response, adjustments can be made to improve production and overall operations.

Statoil has agreed to reduce its working interest in the non-operated U.S. southern Marcellus onshore asset from 29% to 23%, following a $394 million transaction with Southwestern Energy, Statoil said in a news release.

Exxon Mobil Corp. reported a steep drop in fourth-quarter profit on lower prices and declining production as the rout in oil ushered in an era of frugality for an industry that reaped $3.2 trillion in sales last year.

Jeanette L. Ourada has been named corporate vice president and comptroller for Chevron Corp., effective April 1. Ourada succeeds Matthew J. Foehr, who will retire from the company March 31 after 33 years.